Barclays on Monday raised its zinc and copper price forecasts for 2014 citing improved demand outlook for the industrial metals. The bank sees zinc at $2,138 per tonne in 2014 and forecasts copper at $7,125 per tonne this year, it said in a note.
"We expect the global refined zinc surplus to shrink markedly this year and for the market to move into its first deficit in almost a decade in 2015," it said. Barclays said it expects copper to move into surplus in 2014, weighing on prices, though it said the surplus would likely be small and short-lived. ..............................................Full Article: Source